Division of Award. Tenant shall have no claim against Landlord arising out of or related to any taking, or for any portion of the amount that may be awarded as a result, damages or compensation attributable to damage to the Premises, value of the unexpired portion of the Term, loss of profits or goodwill, leasehold improvements or severance damages, and Tenant hereby assigns to Landlord all its rights, title and interest in and to any such award; provided, however, that Tenant may assert any claim it may have against the authority for compensation for Tenant's Personal Property and for any relocation expenses compensable by statute, as long as such awards shall be made in addition to and stated separately from the award made for the Land, the Building and the Premises.
Division of Award. Tenant shall have no claim against Landlord arising out of or related to any taking, or for any portion of the amount that may be awarded as a result, and Tenant hereby assigns to Landlord all its rights, title and interest in and to any such award; provided, however, that Tenant may assert any claim it may have against the authority for compensation for Tenant’s Personal Property and for any relocation expenses compensable by statute, as long as such awards shall be made in addition to and stated separately from the award made for the Land, the Building and the Premises.
Division of Award. Out of any award for any taking of Landlord's interest in the Premises, Landlord shall be entitled to receive and retain the amounts awarded for the value of the Ground Lease and Tenant shall have the right to file a claim and/or to obtain an award for the value of the unexpired term of this Lease and all Leasehold Improvements, the building and for the depreciated value of the Fixtures and Equipment and the Tenant's moving expenses and loss of business and the Tenant shall have the right to be a party to the acquisition or condemnation proceeding to make a claim for all of such aforesaid damages.
Division of Award. The Lessor and the Lessee shall each be entitled to receive and retain separate awards, or portions of lump sum awards, as are allocated to their respective interests in the condemnation proceeding. The termination of this Lease under this Paragraph shall not affect the rights of the respective parties to such awards.
Division of Award. Lessor and Xxxxxx shall each be entitled to receive and retain separate awards, or portions of lump sum awards, as are allocated to their respective interests in the condemnation proceeding. Without limiting the generality of the preceding sentence, Xxxxxx has no interest in any award made to Lessee for Xxxxxx’s moving and relocation expenses or for the loss of Xxxxxx’s leasehold interest, fixtures and other tangible personal property if a separate award for such items is made to Lessee. The termination of this Lease under this section shall not affect the rights of the respective parties to such awards.
Division of Award. (a) If, during the term of this Lease, the Premises, or any portion thereof, are condemned or taken by any Governmental Authority having the power of eminent domain, or on behalf of which the power of eminent domain may be exercised, the court in such condemnation proceedings shall be requested to make separate awards to Landlord and Tenant as to their respective interests in the Premises, and Landlord and Tenant agree to request such action by the court. This Paragraph 8.2
(a) shall be construed as superseding any statutory provisions now in force or hereafter enacted concerning condemnation proceedings to the extent permitted by law.
(b) In the event that Landlord and Tenant are unable to obtain separate awards with respect to their respective interests in the Premises, then the net award received (after deductions of reasonable fees and expenses of collection, including, but not limited to, reasonable attorney's fees) shall be fairly and equitably apportioned between Landlord and Tenant to reflect their respective interests in the Premises. The portion of the award to be received by Landlord shall reflect the taking of fee simple estate in and to the Land based upon the fair market value of the Land as of the date preceding the day on which title to the Land vests in the condemning authority. In addition, there shall be taken into consideration the fact that the buildings and other improvements constructed on the Land will belong to Landlord upon the expiration of the Term of this Lease., The portion of the award to be received by Tenant shall be based upon the taking and reduction of Tenant's leasehold estate created by this Lease, the taking of any building and other improvements on the Land, loss or interruption of business, and the cost of any restoration or repair necessitated by such taking or condemnation. Such values shall be determined as of the time of condemnation by agreement of the parties or by arbitration in the manner set out in Section 8.5. Landlord and Tenant agree that, in the event they are unable to obtain separate awards, there shall be no settlement of any condemnation award or proceeding without the consent of any Leasehold Mortgagee; it being understood, however, that any such Leasehold Mortgagee shall have rights only in and to Tenant's portion of the award.
Division of Award. 8 8.3. Condemnation of Less Than a Substantial Portion................... 9 8.4. Condemnation of a Substantial Portion............................. 9 8.5. Arbitration....................................................... 9 8.6. Temporary Taking.................................................. 10 8.7. Appraisal......................................................... 10
Division of Award. Any award for the taking of all or any part of the Buildings, Garage or other part of the Complex, or any payment made under threat of the exercise of such power shall be the property of Landlord, and Tenant hereby assigns to Landlord all of its right, title and interest in and to any such award, except for any portions of such award which are specifically allocated by the condemning authority as compensation for; (i) the taking of Tenant’s personal property and/or trade fixtures; and (ii) moving expenses. Tenant shall be entitled to any compensation separately awarded to Tenant for the matters set out in (i) through (ii) above.
Division of Award. Any award or payment made by the condemning authority upon any Taking shall be the sole property of Landlord, and Tenant shall have no claim thereof against the condemning authority, except that Tenant shall be entitled to make a separate claim for the value of the loss of Tenant’s trade fixtures, personal property and relocation expenses, however, Tenant shall in no event be entitled to any payment that reduces the award to which Landlord is or would be entitled for the condemnation of Landlord’s interest in the Premises.
Division of Award. If the order or decree in any condemnation or similar proceeding fails to separately state the amount to be awarded to Landlord and the amount to be awarded to Tenant by way of compensation; damages; rent; cost of demolition, removal, or restoration; or otherwise, and if Landlord and Tenant cannot agree on the amounts within thirty (30) Days after the final award(s) have been fixed and determined, then the value shall be determined by using the following valuation process:
A. Landlord and Tenant, at their respective costs and by Notice to the other, shall each appoint a qualified M.A.I. real estate appraiser with at least five (5) years, full-time commercial appraisal experience in Maricopa County to appraise and set the fair market value of the land upon which the Tenant Improvements have been constructed.
B. If a Party does not appoint an appraiser within ten (10) Days after the other Party has given Notice of the name of its appraiser, then the single appraiser appointed shall be the sole appraiser and shall set the fair market value of the land.
